Day: January 3, 2024

Approval of Bitcoin ETF could boost investment from non-crypto users

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A recent Security.org report indicates a 10% year-over-year increase in U.S. cryptocurrency ownership, with 46% optimistic about the potential positive impact of Bitcoin ETF approvals in 2024. Based on a survey of 1,500 Americans, 40% currently own cryptocurrency, and of those not yet involved in crypto, 15% expressed an intention to make a purchase in the coming year. Additionally, 21% revealed they would be more inclined to invest if a spot Bitcoin ETF is approved. Security.org survey results Respondents expressed optimism regarding the impact of Bitcoin ETF approvals in 2024,…

Arbitrum Reaches Major Milestone In TVL As Price Rallies

Arbitrum (ARB), a layer 2 (L2) protocol has achieved yet another major milestone in its Total Value Locked (TVL) reaching new heights, following a surge in the crypto asset’s price. Arbitrum Sees Surge In Total Value Locked (TVL) According to the L2beat platform, Arbitrum’s TVL recently went past the $10 billion mark putting it in the spotlight. Data from the analytics firm reveals that the network’s TVL is currently at $10.36 billion. L2beat’s report shows that Arbitrum One’s TVL soared by a remarkable 16.49% over the past seven days. With…

Solana’s Surge: Boom or Temporary Bounce?

SOLANA: BOOM TIMES OR BLIP? Solana’s SOL token, which crashed in price from over $200 in 2021 to under $10 in 2022, has buoyed back above $100 in recent months, making it one one the biggest beneficiaries of the recent crypto market surge. The Solana blockchain was pilloried last cycle for its close ties to Sam Bankman-Fried and its spotty track record of network outages. SOL’s latest price gains have been viewed by some as a signal of wider confidence in the ecosystem – an indication that traders see sordid…

ApeX reports 203% gains amid market downturn

According to CoinGecko data, ApeX, the token behind the decentralized derivatives protocol, was reported as the top gainer on Jan. 3. These gains come in contrast to a declining market, which has experienced a 7.2% decrease in market cap overall. In contrast, ApeX (APEX) over the last seven days, ApeX has recorded a substantial price increase of 203%, while the global cryptocurrency market has experienced a decline of 3.3%. APEX Price | Source: CoinGecko The current price of ApeX stands at $1.02, reflecting a 203% surge in the last 24 hours and an…

Deribit sees significant interest in $50k Bitcoin call options

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In response to Bitcoin’s recent price fluctuations, the options market is showing heightened activity, particularly with a focus on call options at a $50,000 strike price set to expire on Jan. 26. According to Deribit data, over 8,300 contracts, valued at $376 million, are outstanding at this strike price, suggesting a notable anticipation of a potential rise in Bitcoin’s value. Across all expiry dates on Deribit, there are more than 21,800 contracts for calls at $50,000, totaling a notional value of $926 million. Additionally, Velo Data highlights a skew towards…

Why The Crypto Flash Could Be The Buy The Dip Moment

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In a flash, nearly $200 billion in value was wiped out of the cryptocurrency market today in a larger selloff driven by rumors that pending Bitcoin ETF approvals could end up denied by the SEC. Despite the carnage across crypto today, this could be the moment dip buyers have been waiting for. Recapping The Crypto Market Flash Crash At around 6AM this morning, Bitcoin price began falling, causing a cascade of liquidations in altcoins. Bitcoin dropped nearly 10% while altcoins fell anywhere between 20 and 30% from local highs. The…

CoinShares sees $2.2b influx in 2023 crypto product investments

In the final week of 2023, cryptocurrency investments surged with a $243 million inflow, reaching a yearly total of $2.2 billion, fueled by Bitcoin’s substantial 86% share and market optimism. James Butterfill, Head of Research at CoinShares, reported that Bitcoin (BTC) dominated this surge, representing 86% with over $1.9 billion in inflows, followed by Solana’s (SOL) at $167 million. However, multi-asset and BNB exchange-traded products (ETP) defied the trend, experiencing net outflows of $18 million and $1 million, respectively. Comparing the data to the previous year, 2023 exhibited increased inflows.…

Crypto Analyst Blasts $20,000 XRP Price Target, Reveals Why It’s Impossible

XRP YouTuber Moon Lambo has hit out at those who believe that the XRP price could be worth $20,000 in the future. The analyst believes that this price level is unattainable for the crypto token as he highlighted reasons why he holds this belief.  Why The XRP Price Cannot Rise To $20,000 In a video on his YouTube Channel, Moon Lambo explained that XRP’s market cap will need to run into quadrillions of dollars if it were to achieve that price level based on its current market cap. However, from…

Asset manager backs Bitcoin price to hit $80K in 2024

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin could reach an all-time high price of $80,000 in 2024, according to a prominent analyst. Let’s dive into this optimistic forecast. Analysts say a trifecta of catalysts could push Bitcoin price Potential approvals of Bitcoin spot ETFs, the Bitcoin halving set for April, and growing demand from enterprises could drive Bitcoin to $80,000 by the year-end according to AllianceBernstein. Bitcoin rallied by over 150% in 2023 and has…